Celanese (CE) Receives New Coverage from Analysts at Barclays

Barclays began coverage on shares of Celanese (NYSE:CE) in a report published on Friday morning. The brokerage issued an overweight rating and a $111.19 price target on the basic materials company’s stock.

A number of other research firms have also recently issued reports on CE. BMO Capital Markets boosted their price objective on Celanese to $137.00 and gave the company an outperform rating in a research report on Wednesday, April 18th. Robert W. Baird restated a buy rating and set a $130.00 price objective on shares of Celanese in a research report on Monday, January 29th. Deutsche Bank restated a buy rating and set a $128.00 price objective on shares of Celanese in a research report on Monday, January 29th. UBS boosted their price objective on Celanese from $107.00 to $113.00 and gave the company a neutral rating in a research report on Friday, January 26th. Finally, Citigroup boosted their price objective on Celanese from $123.00 to $128.00 and gave the company a buy rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $116.60.

Shares of NYSE CE opened at $111.64 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $15,170.76, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33. Celanese has a 12 month low of $83.34 and a 12 month high of $114.00.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.46. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.66 billion. Celanese had a return on equity of 35.22% and a net margin of 15.69%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. research analysts forecast that Celanese will post 9.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Monday, April 30th will be paid a $0.54 dividend. This is a positive change from Celanese’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, April 27th. This represents a $2.16 annualized dividend and a yield of 1.93%. Celanese’s payout ratio is currently 24.50%.

Hedge funds have recently made changes to their positions in the stock. First PREMIER Bank boosted its stake in Celanese by 900.0% in the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after buying an additional 900 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Celanese in the 4th quarter valued at $129,000. Compagnie Lombard Odier SCmA acquired a new stake in Celanese in the 4th quarter valued at $160,000. Lido Advisors LLC acquired a new stake in Celanese in the 4th quarter valued at $200,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Celanese in the 4th quarter valued at $203,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

Analyst Recommendations for Celanese (NYSE:CE)

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